Chandigarh, Sep 24 - The Indian Music Industry (IMI), an association of 142 music companies, Thursday launched Music Mobile Exchange (MMX), a mobile licensing scheme, to curb music piracy on mobile chip in Punjab.

Under this initiative, mobile stores and outlets offering mobile music services can operate legitimately by opting for an MMX licence from rights holders and sell music without violating the Copyright Act.

'Mobile phones and chips are growing at a phenomenal pace in India and every user wants music on his or her phone. Shopkeepers are currently offering these services illegally and making millions of rupees,' said IMI secretary general Savio D'Souza here.

'The music industry in India is losing more than Rs.300 crore each year from just mobile chip piracy,' D'Souza told reporters.

'We have registered more than 1,000 cases against mobile chip piracy. Punishment ranges from six month to three years imprisonment and fines from Rs. 50,000 to Rs. 200,000.